Responding to Soaring Construction Material Prices... LH Holds Meeting with Construction Companies

Kim Hyun-jun, President of LH (seventh from the left), and executives from construction companies and other stakeholders are taking a commemorative photo at the meeting.

Korea Land and Housing Corporation (LH) announced on the 18th that the LH Goyang Business Headquarters held a meeting with executives from construction companies regarding the sharp rise in construction material prices.

Attended by LH President Kim Hyun-joon, this meeting was held to share industry issues such as the supply status of materials amid the situation where the Russia-Ukraine war has disrupted the supply of construction materials like steel and cement, causing a sharp increase in prices. Kumho Industrial, Daewoo Shipbuilding & Marine Engineering, GS Construction, Jinheung Enterprise, and KCC Construction participated in the meeting.

Each organization shared difficulties in material supply at construction sites, site challenges such as strikes by reinforced concrete subcontractors due to increased construction payments, and exchanged opinions on win-win cooperation measures to ensure smooth construction progress and high-quality construction.

President Kim Hyun-joon said, "We deeply empathize with the industry's difficulties related to the recent sharp rise in construction material prices," adding, "We will thoroughly review ways LH can support to ensure uninterrupted construction and actively strive to provide high-quality housing to the public."

This content was produced with the assistance of AI translation services.